LONDON, July 3, 2026, 09:22 BST
- Quantum Helium began AIM trading after a 1-for-100 share consolidation, cutting the share count used for voting rights to 499.85 million from 49.99 billion.
- Google Finance showed QHE at 3.07p at 09:07 BST, up 9,965.57%, but the like-for-like move was about 0.7% versus a split-adjusted prior close of 3.05p.
- The early session left some data fields hard to read, with old share-count references still visible while market-cap figures sat near £15 million.
- The operating case still rests on Sagebrush: recent testing showed 2.5% helium and commercial oil from the Leadville Formation.
Quantum Helium Limited (LON:QHE) reopened on AIM after a 1-for-100 share consolidation on Friday, with market screens printing a near 10,000% one-day jump that did not match the economic move in the shares. Google Finance showed the stock at 3.07 pence at 09:07 BST, versus an Investors Chronicle/LSEG previous close of 0.0305p before the consolidation. Adjusted for the 100-for-1 change, that prior close was about 3.05p.
Shareholders approved the consolidation on July 1, with 93% of proxy votes in favour. The company said dealings in the consolidated shares were expected to start at 8:00 a.m. London time on July 3.
| Capital item | Before consolidation | After consolidation | Market read |
|---|---|---|---|
| Ordinary shares / voting rights | 49,985,396,722 | 499,853,967 | Share count cut by 99% |
| Ratio | 100 old shares | 1 new share | No like-for-like price move without adjustment |
| Start of new line | Record date July 2 | AIM dealings July 3, 8:00 a.m. | First session likely to carry stale data fields |
| New identifiers | Old line ended | ISIN AU0000473282, SEDOL BRCFQ25 | Settlement and screen systems reset |
The problem for investors is not the split itself. It is the mix of old and new numbers in live data. At 3.07p, the official post-consolidation share count implies a market value of about £15.3 million. Applying the same price to the old 49.99 billion share count would imply about £1.53 billion, a bad read by two orders of magnitude. Google Finance showed a 49.99 billion share count while also showing a market cap of £14.67 million.
| Early-session item | Screen print | Split-adjusted read |
|---|---|---|
| Google Finance price, 09:07 BST | 3.07p | 0.0307p on the old basis |
| Google one-day change | +9,965.57% | About +0.7% vs 3.05p adjusted close |
| Google open / high / low | 3.76p / 3.76p / 2.74p | 0.0376p / 0.0376p / 0.0274p old basis |
| Google volume | 358,680 shares | 35.9 million old-share equivalent |
| Implied market value at 3.07p | £15.3 million using new count | £1.53 billion using stale old count |
Investors Chronicle’s LSEG-delayed screen showed QHE at 2.90p as of 09:00 BST, with 323,680 shares traded, a bid of 2.90p and an offer of 3.30p. That bid-offer spread was about 13% of the mid-price, a cleaner sign of early liquidity than the headline percentage move.
Executive Chairman Carl Dumbrell said last week the consolidation was meant to “improve the Company’s market positioning” and help with a possible U.S. OTC listing. He also said the company had seen more interest from North American investors. Brand UK
The split follows a run of project news from Sagebrush in Colorado. Quantum said on June 15 that the Sagebrush-1 extended production test confirmed helium-bearing gas, reservoir connectivity and commercial oil production from the Leadville Formation, where the company holds a 90% working interest. Lab work confirmed helium concentrations of 2.5%, pressure build-up reached about 90% of virgin reservoir pressure, and more than 80 barrels of oil had been recovered during testing.
Chief Executive Howard McLaughlin said the early results had “exceeded our expectations”. The company said Sagebrush has a Sproule ERCE-verified 2U gross helium resource of 134 MMscf and that its total independently certified 2U gross helium resource base across Sagebrush and Coyote Wash stands at 1.104 Bcf. Investegate
OAK Securities initiated research coverage on Quantum in late June, according to an RNS Reach release, and cited more than 1 Bcf of independently assessed helium resources, the 2.5% Sagebrush helium result, commercial oil production and the company’s £5 million April institutional raise.
The next data points are production, pressure and fluid data from Sagebrush, which Quantum said it plans to send to Sproule ERCE for review, including the newly identified oil potential.
